Repossession Orders up 17%
20th June 2008
According to the Ministry of Justice mortgage possession orders in the first quarter of 2008 where 17% higher than the previous year. The number of mortgage possession orders made were 27,530. In the same period landlord possession orders were also up by 10%.
The number of mortgage possession claims also increased by 16% to 38,688 for the first quarter of 2008.
Several factors are being cited as the cause from the Credit Crunch and less readily available mortgage deals as well as people’s inability to meet their mortgage payments due to increasing household bills for energy, food and fuels.
For the “Statistics on mortgage and landlord possession actions in the county courts – first quarter 2008” please visit Ministry of Justice.
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